The online sports content and betting provider said trading during the first half of 2006 has been strong, showing a 10% rise in revenue and a significant increase in profitability over the same period in 2005.
During the period there were 53,000 gaming registrations, up 20% over last year, with the content sites delivering 62% of Totalbet and UKbetting customers, giving an average cost of acquisition significantly below the rest of the market.
Following the changes to fixed odds trading at the end of January, underlying fixed odds margin showed a 15% improvement. Casino and poker revenues were up 33% against the corresponding period last year resulting in a gross win of 13.2%, up 18% on last year. The Board anticipates that there should be further improvements in its gaming operations following the introduction of a single wallet for poker in July, followed by the integration of its casino operations by Q4 2006.
The group’s network of content sites has continued to receive record levels of traffic, attracting more than 9.1m average monthly users, an increase of 7% over H1 2005 and peaking at 9.75m during June.
Advertising revenue for the period was up 34%, despite the decision not to take competitive gambling advertising, which was included in last year’s figures. In addition, affiliate performance under the Oddschecker brand improved significantly.
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